Biogen Inc. (NASDAQ:BIIB) Shares Sold by Comerica Bank

Comerica Bank lowered its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 14.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,696 shares of the biotechnology company's stock after selling 5,735 shares during the period. Comerica Bank's holdings in Biogen were worth $5,153,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda boosted its holdings in shares of Biogen by 25.5% in the fourth quarter. Kapitalo Investimentos Ltda now owns 1,472 shares of the biotechnology company's stock valued at $225,000 after acquiring an additional 299 shares in the last quarter. PDT Partners LLC boosted its stake in Biogen by 138.9% during the 4th quarter. PDT Partners LLC now owns 39,405 shares of the biotechnology company's stock valued at $6,026,000 after purchasing an additional 22,908 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of Biogen by 1,002.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 79,516 shares of the biotechnology company's stock valued at $12,160,000 after purchasing an additional 72,305 shares during the period. AQR Capital Management LLC raised its stake in shares of Biogen by 982.0% in the 4th quarter. AQR Capital Management LLC now owns 539,692 shares of the biotechnology company's stock worth $81,914,000 after buying an additional 489,811 shares in the last quarter. Finally, Lido Advisors LLC boosted its stake in Biogen by 2,364.3% during the fourth quarter. Lido Advisors LLC now owns 41,598 shares of the biotechnology company's stock valued at $6,361,000 after buying an additional 39,910 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Trading Down 1.4 %

Biogen stock opened at $121.80 on Tuesday. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00. The company's fifty day moving average price is $130.21 and its two-hundred day moving average price is $145.97. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company has a market capitalization of $17.83 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.51 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the business posted $3.67 earnings per share. The firm's revenue was up 6.2% on a year-over-year basis. On average, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein began coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 price target for the company. Argus lowered shares of Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. BMO Capital Markets decreased their price target on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research report on Thursday, February 13th. Hsbc Global Res downgraded Biogen from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, The Goldman Sachs Group cut their price target on shares of Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Twenty analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $194.56.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.